14.4 The EU's declining share of global GDP

Many analyses show that the EU's share of global output is declining and expected to decline further.

One such analysis is by the Chancellor of the Exchequer. According to his figures the EU's share of global output has fallen from 26% (in 1980) to 22% (in 2003) and is expected to fall to 17% by 2015. The US's share would change little over the period 1980 to 2015 (at around 20%), whilst India's and China's shares would rise from 3% in 1980 (for both countries) to 8% and 19% respectively.

Shares of global output (PPP terms)

Source: Gordon Brown, Global Europe: full-employment Europe, HM Treasury, October 2005.

RL, February 2007